Guys I would look at IEF if I where you..
The only question mark is the LVR covenant at 60%.
Its simple, has some great assets, good management, still paying a div, sensible valuation and is at a huge discount to NTA. The other thing with this one is that between orbis, ING and another funds they own 50% and at higher prices than it is now.
Any run on the sector could see this one move allot given the tight nature of the stock + decent development potential with the Panthers JV ( in the future)
Just FYI
Sorry VPG ers (still much larger % upside here)
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time to buckle up, page-17
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